2017 South Carolina Code of Laws
Title 9 - Retirement Systems
CHAPTER 11 - POLICE OFFICERS RETIREMENT SYSTEM
Section 9-11-300. Increase in retirement allowances as of July 1, 1974.
For all retirement allowances due on or after July 1, 1974, the retirement allowance payments to any member retired prior to said date or his beneficiary designated under an optional benefit or to any other beneficiary in receipt of an allowance prior to said date, exclusive of payments under the Supplemental Allowance Program, shall be recomputed as though the provisions of Section 9-11-60(2), (a) of this chapter had been in effect at the time of his most recent retirement. Any such benefits payable under the Supplemental Allowance Program shall be increased by ten percent effective July 1, 1974. This section shall not, however, be applicable to the part of any retirement allowance derived from a member's accumulated additional contributions.
Benefits payable due to retirement prior to July 1, 1988, shall be increased by fourteen and three-tenths percent effective July 1, 1988.
Benefits payable due to retirement before July 1, 1989, must be increased by seven percent effective July 1, 1989.
HISTORY: 1962 Code Section 61-346; 1969 (56) 25; 1971 (57) 66; 1973 (58) 106; 1974 (58) 2032; 1988 Act No. 424, Section 6, eff July 1, 1988; 1989 Act No. 189, Part II, Section 60G, eff July 1, 1989 (became law without the Governor's signature).
Effect of Amendment
The 1988 amendment added the second unnumbered paragraph providing for the increase of retirement benefits for retirements prior to July 1, 1988.
The 1989 amendment added the third unnumbered paragraph, increasing benefits by seven percent.
